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OCC raises semiannual assessments for larger institutions

The OCC announced in OCC Bulletin 2014-39 issued on August 11 increases in semiannual assessments on national banks and federal savings associations with more than $40 billion in assets. The OCC raised the marginal assessment rate on bank assets in excess of $40 billion by 14.5%.

Nutter Notes: The effective increase in the assessment amount for an individual bank depends on its total assets, with increases ranging from between 0.32% percent and 14.0% according to the OCC. The increase in assessments is effective for the assessment due on September 30, 2014.